Monday, 3 October 2016

Khartoum Announces Cutting Subsidies on Goods in 2017 Budget

London-The Sudanese government confirmed that it will cut subsidies on goods as it will increase wages, coinciding with the country’s 2017 budget.

The government stressed on its adherence to spend on security and defense services in order to reinforce them.

Moreover, observers believe that the procedures that were announced by the government came in line with implementing the World Bank’s policies.

Notably, the World Bank called on Khartoum to conduct systematic reforms to revive the economy and urged it to gradually reduce its currency.

On next year’s budget challenges, Sudanese Minister of Finance Badr al-Din Mahmoud said in a meeting with ministers of finance and their deputies in the United States that his country will cut subsidies on wheat and flour.

Mahmoud added that this “new policy lies in not intervening in the manufacture and trade of bread, in addition to specifying the exact weight for the piece of bread.”

He pointed out that the government is committed to revising the wage policy, addressing the gap between wages and prices and adjusting the first chapter on salaries.

The Finance Minister explained that his ministry seeks to remove all the distortions in the new budget by liberalizing goods, considering that many gains were achieved by the liberalization policy, which was adopted by the government earlier.

He admitted that many challenges are facing the new budget, the result of the negative effects of the economic blockade imposed by the United States on his country.

“Debts, effects of the separation of South Sudan, low commodity prices in the global market and the decline in global oil prices have affected growth in Sudan,” added Badr al-Din Mahmoud.

Post a Comment

Visit our Official Site

Search This Blog

About Me

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.